French energy giant EDF plans to turn the former British Energy into a multi-billion pound centre of excellence capable of building nuclear plants around the world.
EDF bought British Energy from the Government in September for GBP12 billion, but the sale received clearance from the European Competition Commission only after Christmas, allowing the creation of the new merged business called EDF Energy.
EDF Energy is still eight years from building its first nuclear reactor in Britain, but is already targeting the US and China as markets ripe for expansion.
Newly appointed EDF Energy chief executive Vincent de Rivaz said: "I have three goals. I want to create a strong nuclear company, I want to deliver on four new nuclear power stations. And I want to combine the expertise of British Energy and EDF scientists to create a worldclass centre of nuclear excellence."
Over the next 16 years, EDF Energy will invest at least GBP16 billion in new reactors. The company is looking at opportunities for a further six reactors around the world. Rivaz also predicted that by 2020 EDF Energy would be producing the cheapest electricity as gas and coal prices soared.
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